Do you know what it is like to be a conventionally attractive woman in our society? We’re allowed to exist in spaces that less conventionally attractive women aren't, but at the cost that we are seen as prizes or possessions for the men who let us into those spaces. We are often hounded by men who want to have sex with us, and we’re only allowed to say no to them if we can prove we belong to a man already.
We are assumed to be less intelligent, because how could an attractive woman also be smart? The world treats us as if we are worth something - which isn't something all women get, unfortunately - but that worth is based on our physical appearance. Heaven, forbid we gain some weight or start to look older as we age. There’s this constant feeling from a society that we are supposed to be pitted against other women, that somehow, we’re on a different team than them.
Being a conventionally attractive woman means that you have privilege over other women, but you are still a woman and still face the possibility of rape, still find yourself less valued by society than men, and still find your competency questioned at every turn.
What does being a trans woman add to that mix? An even increased chance of being raped or murdered. It means that sometimes your validity as a woman is questioned, and those same elements of society that try to pit women against each other are exacerbated. It means that sometimes you are more accepted by people because of how well you “pass,” and other times you are less accepted by society because you don't fit their conception of what a trans woman should look like.
Things are complicated, and every person’s story will vary to some extent. For example, I am intersex, and while I was assigned an incorrect gender at birth, puberty still widened my hips and gave me breasts (and some facial hair). So, my experience doesn't fit into the typical trans woman’s experience, nor does it fit into the typical cis woman’s experience. But we all share in the ways society treats us for being women.