As an investor, i cannot participate in IEO conducted by small and new exchanges. The main reason why IEOs are preferred to ICOs is because they are more prone to scam than ICOs, and this is because the exchange validates its legality with their reputation. Imagine Binance or any top exchange conducting a scam project, it will jeopardize their integrity, and these exchanges do not want their integrity in question, so they only offer legit and promising projects IEO. New exchanges do not have the reputation to validate a project, they are just after the profit, SO they might promote a scam project either intentionally or unintentionally.
It will be on you if you're gonna trust the platform or not. It is always risky to invest in anything but it doesn't mean you will stop. Exchanges might just focus on the profit rather than to the success of the project but it doesn't always mean that the project will fail or a scam. IEOs also do not assure to earn a high profit or else it will be too good to be true. Set aside your trust in the platform and research more about the project instead.