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.
Is it that you just realised that? Well, IEO is just the rebranded verious of ICO. It is ICO 2.0 with all the features of it. Investors just needs to be careful whenever they decide to invest in any IEO. They should make sure they do some research about the project and its realistic nature in terms of its aims and missions. With this knowledge, you will know whether the IEO project is a scam or not.