Initial Exchange Online is not a trick or even and upgrade, it's just people who are too late to love IEO because many projects turned into scam or struggling to get listed on exchanges, so IEO decrease their risk. In fact, I have seen some projects using this idea to conduct their tokensales couple years ago but just today the idea became hype.
Scam exchanges will get a very funny period with IEO-hot trend. They will easily to reach their objectives, raising funds from community and go away with a fortune. I believe that months later, we will see many scam accusation on scam exchanges, that made successful IEOs, and scam exits later. I don't have intention to invest in IEOs, especially with small, strange exchanges. For big exchanges, small investors are not able to join. Bittrex shown us the fact.
You can simply get your capital ready; then wait for the dump (it will surely come)