diff --git a/freqtrade/rpc/telegram.py b/freqtrade/rpc/telegram.py
index 70d5a78f3..3d4ab5aa5 100644
--- a/freqtrade/rpc/telegram.py
+++ b/freqtrade/rpc/telegram.py
@@ -390,7 +390,8 @@ def _balance(bot: Bot, update: Update) -> None:
         if c['Balance'] or c['Available'] or c['Pending']
     ]
     if not balances:
-        output = '`All balances are zero.`'
+        send_msg('`All balances are zero.`')
+        return
 
     total = 0.0
     for currency in balances:
@@ -398,7 +399,10 @@ def _balance(bot: Bot, update: Update) -> None:
         if coin == 'BTC':
             currency["Rate"] = 1.0
         else:
-            currency["Rate"] = exchange.get_ticker('BTC_' + coin, False)['bid']
+            if coin == 'USDT':
+                currency["Rate"] = 1.0 / exchange.get_ticker('USDT_BTC', False)['bid']
+            else:
+                currency["Rate"] = exchange.get_ticker('BTC_' + coin, False)['bid']
         currency['BTC'] = currency["Rate"] * currency["Balance"]
         total = total + currency['BTC']
         output += """*Currency*: {Currency}
diff --git a/freqtrade/tests/rpc/test_rpc_telegram.py b/freqtrade/tests/rpc/test_rpc_telegram.py
index 7b1f656d6..2dacf33ce 100644
--- a/freqtrade/tests/rpc/test_rpc_telegram.py
+++ b/freqtrade/tests/rpc/test_rpc_telegram.py
@@ -631,6 +631,7 @@ def test_stop_handle_already_stopped(default_conf, update, mocker):
 
 
 def test_balance_handle(default_conf, update, mocker):
+
     mock_balance = [{
         'Currency': 'BTC',
         'Balance': 10.0,
@@ -643,7 +644,34 @@ def test_balance_handle(default_conf, update, mocker):
         'Available': 0.0,
         'Pending': 0.0,
         'CryptoAddress': 'XXXX',
+    }, {
+        'Currency': 'USDT',
+        'Balance': 10000.0,
+        'Available': 0.0,
+        'Pending': 0.0,
+        'CryptoAddress': 'XXXX',
+    }, {
+        'Currency': 'LTC',
+        'Balance': 10.0,
+        'Available': 10.0,
+        'Pending': 0.0,
+        'CryptoAddress': 'XXXX',
     }]
+
+    def mock_ticker(symbol, refresh):
+        if symbol == 'USDT_BTC':
+            return {
+                'bid': 10000.00,
+                'ask': 10000.00,
+                'last': 10000.00,
+            }
+        else:
+            return {
+                'bid': 0.1,
+                'ask': 0.1,
+                'last': 0.1,
+            }
+
     mocker.patch.dict('freqtrade.main._CONF', default_conf)
     msg_mock = MagicMock()
     mocker.patch.multiple('freqtrade.rpc.telegram',
@@ -655,12 +683,32 @@ def test_balance_handle(default_conf, update, mocker):
     mocker.patch.multiple('freqtrade.fiat_convert.Pymarketcap',
                           ticker=MagicMock(return_value={'price_usd': 15000.0}),
                           _cache_symbols=MagicMock(return_value={'BTC': 1}))
+    mocker.patch('freqtrade.main.exchange.get_ticker', side_effect=mock_ticker)
 
     _balance(bot=MagicMock(), update=update)
+    result = msg_mock.call_args_list[0][0][0]
     assert msg_mock.call_count == 1
-    assert '*Currency*: BTC' in msg_mock.call_args_list[0][0][0]
-    assert 'Balance' in msg_mock.call_args_list[0][0][0]
-    assert 'Est. BTC' in msg_mock.call_args_list[0][0][0]
+    assert '*Currency*: BTC' in result
+    assert '*Currency*: ETH' not in result
+    assert '*Currency*: USDT' in result
+    assert 'Balance' in result
+    assert 'Est. BTC' in result
+    assert '*BTC*:  12.00000000' in result
+
+
+def test_zero_balance_handle(default_conf, update, mocker):
+    mocker.patch.dict('freqtrade.main._CONF', default_conf)
+    msg_mock = MagicMock()
+    mocker.patch.multiple('freqtrade.rpc.telegram',
+                          _CONF=default_conf,
+                          init=MagicMock(),
+                          send_msg=msg_mock)
+    mocker.patch.multiple('freqtrade.main.exchange',
+                          get_balances=MagicMock(return_value=[]))
+    _balance(bot=MagicMock(), update=update)
+    result = msg_mock.call_args_list[0][0][0]
+    assert msg_mock.call_count == 1
+    assert '`All balances are zero.`' in result
 
 
 def test_help_handle(default_conf, update, mocker):