Transparency is more important though when it comes to services,I have pretty bad trading experience on exrates.me which related to the price they are listing tokens and the actual trading price is very too low from the listed price and also they have high gee struture whereas Binance is pretty new exchange compared to other old exchange still it got reputation and users due to their low fee and complete secured feel while trading on their platform.
Exrates is a known scam exchange now, they always faked the price and volume! Exrates has near-zero real volume, all you can see those are fake/bot volume, I never traded there after I noticed this scam behaviour! The exrates team is shady and dishonest nowadays, you cant get quick help from them! But in Binance, you will be exhausted by taking their several services!