Futa can have balls or not, what is important is that they're 100% female except for having male genitalia as well (dick required). A true hermaphrodite can be anywhere between 99.9% female to 99.9% male, not all of them have both sexes' parts, and those who do usually also have facial hair and other male stuff elsewhere than their genitals.
In fiction, futas: Are all female except for having a dick (and maybe balls), can impregnate and get pregnant (50/50 herms usually can't do either) usually with or without external balls, have insanely high sex drives, are taller and stronger than females, have larger genitals than males (average is higher than average), and their cum and pheromones are usually addicting to both sexes. They can also, much like orcs and goblins, get females pregnant at a much higher rate than males can.
There are a lot of great futa games on and off itch, some of them having alpha and beta futanari (balls and no balls), one having a sissy sex and a futa sex in addition to male and female, and many more! I suggest playing them before making assumptions of futas.