I’ve not heard it used so, but I imagine younger folk might use it that way, since we adopt US culture so much.
This is an example of the American cultural imperialism someone else was whining about above. In the UK a f@ggot is a type of food. There are adverts on the telly for it. A fag is a cigarette. Gypsy is not necessarily perjorative (it appears as a category on the census). Not sure what tr*p is, but if it’s tramp, that’s a homeless person. Also, a fanny is ladybits.
I must revise my earlier reply. Watching a documentary about George Michael, it seems it was a current and offensive slur in the UK even decades ago. Apparently my childhood was sheltered from homophobia.