- Exchange not listed on Coinmarketcap nor on Coingecko
I would not give any flag for it. Coinmarketcap or Cingecko or anyone else are not someone to approve or disapprove a project. They are not some kind of government approved agency too. They are business themselves. Any sorts of business interest can hugely effect their decision.
While I partially agree on what you said, when it comes to trusting a new exchange with my money I consider being listed on CMC and CG to be of some importance : at least for the fact that they provide a track of record of exchanges numbers and I feel like the ones who doesn't manage to get it there even if they claim to be
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Trusted by over 5 million users around the world,
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something doesn't match imo.
But I will be very happy if I will prove to be wrong and they will become a well established and succesful exchange.