diff --git a/freqtrade/constants.py b/freqtrade/constants.py
index fcf78c0e9..9c00dc7e3 100644
--- a/freqtrade/constants.py
+++ b/freqtrade/constants.py
@@ -46,7 +46,7 @@ DEFAULT_DATAFRAME_COLUMNS = ['date', 'open', 'high', 'low', 'close', 'volume']
 # it has wide consequences for stored trades files
 DEFAULT_TRADES_COLUMNS = ['timestamp', 'id', 'type', 'side', 'price', 'amount', 'cost']
 TRADING_MODES = ['spot', 'margin', 'futures']
-MARGIN_MODES = ['cross', 'isolated']
+MARGIN_MODES = ['cross', 'isolated', '']
 
 LAST_BT_RESULT_FN = '.last_result.json'
 FTHYPT_FILEVERSION = 'fthypt_fileversion'
diff --git a/tests/exchange/test_exchange.py b/tests/exchange/test_exchange.py
index b6e077fbe..a3167573c 100644
--- a/tests/exchange/test_exchange.py
+++ b/tests/exchange/test_exchange.py
@@ -4063,7 +4063,7 @@ def test_get_max_pair_stake_amount(
     default_conf,
 ):
     api_mock = MagicMock()
-    default_conf['collateral'] = 'isolated'
+    default_conf['margin_mode'] = 'isolated'
     default_conf['trading_mode'] = 'futures'
     exchange = get_patched_exchange(mocker, default_conf, api_mock)
     markets = {