What are Potential Risks?
#1 - They Steal all the Money and Run
I don't think this is very likely, since why would anyone risk their reputation if they already own a successful exchange business (FXPIG). Along with the fact that I believe trading Cryptocurrency and Real Currency are similar enough that the development costs are much lower than if you had to start from scratch, other than the cost of making deposit / withdraw and new regulatory requirements.
#2 - The Product Sucks or No one uses it
Their website and the Flash Sales so far have worked without much issue. It looks pretty good and seems to be well designed but it's hard to tell if a new competitor will come out and destroy the competition. Is this the next MySpace or the next Facebook? Impossible to tell the future, never invest more than you can loose. But they have a roadmap for several products other than just an exchange. Debit Cards, Margin, Lending, ETFs, ICOs & More.
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