Stay away from new exchange tokens and you will be fine, new exchange tokens like Vindax, coinsbit etc, they are low rated and dangerous, you can use coingecko exchange rating to find well rated exchanges, top rated exchanges are better
Why? OP is finding new exchange to invest in. Any new exchange can become a big top exchange in the future. Time changes everything. We have seen what happened to exchanges in just 3 years. Polinex, Bittrex became bad. Binance Okex, Kucoin become top exchanges.
All these exchanges started from scratch if you believe a new platform is worth investing to then why not give it a try. Just like any other investment as long as you make an in-depth research feel free to do so. Any of this new exchange can grow as big as the current big exchanges right now.
You're right. As I say above. Any new exchange can become a top exchange as Binance now. Invest in new exchange is not a bad idea, just need careful research.