diff --git a/freqtrade/exchange/__init__.py b/freqtrade/exchange/__init__.py
index d47199fb2..a1248057f 100644
--- a/freqtrade/exchange/__init__.py
+++ b/freqtrade/exchange/__init__.py
@@ -203,7 +203,8 @@ def get_name() -> str:
 
 
 def get_fee() -> float:
-    if not _API.markets:
+    # validate that markets are loaded before trying to get fee
+    if _API.markets is None or len(_API.markets) == 0:
         _API.load_markets()
 
     return _API.calculate_fee('ETH/BTC', '', '', 1, 1)['rate']