You're correct — the browser uses fallback fonts for any missing characters. It won't show broken/missing glyphs as long as there's a fallback font in the stack that covers those characters.
The way it works: the browser goes through your font-family list left to right. If the primary font doesn't have a glyph for a specific character, it moves to the next font in the stack, then the next, and so on until it finds one that has it. If none of your declared fonts have it, the browser falls back to the system default (which varies by OS — usually something like Arial on Windows, Helvetica on Mac, etc.).
In XenForo 2.3, the default font stack is set via the Style Properties under General > Typography. If you're using a custom font, make...