I am suspicious on that scheme. It is better if it is in exchanges where there are many traders. Nowadays its hard to trust someone whos only email or wechat address whom we know. If they are known for China, they should have more client or they can sell it on exchanges,right?
I see your point. But what makes people trust Bitfinex? It is based in Hong Kong. It is also an overseas exchange.
I think the Gemini is the best exchange. It has the financial service license. It is also an insured exchange.
Gemini is rather new compared to the other exchanges but their backing is substantial, making gemini a reputable exchanges for bitcoin buying but also trading bitcoin.
The fee free exchanges are a little bit fish and I would advice to ignore them.
The Gemini is suppoorted by the twin brother who invented the Facebook. It also has got the bitlicense.