diff --git a/freqtrade/exchange/exchange.py b/freqtrade/exchange/exchange.py
index e55e01186..363fa4e39 100644
--- a/freqtrade/exchange/exchange.py
+++ b/freqtrade/exchange/exchange.py
@@ -19,7 +19,7 @@ from pandas import DataFrame
 from freqtrade import (DependencyException, InvalidOrderException,
                        OperationalException, TemporaryError, constants)
 from freqtrade.data.converter import parse_ticker_dataframe
-from freqtrade.misc import deep_merge_dicts
+from freqtrade.misc import deep_merge_dicts, symbol_is_pair
 
 logger = logging.getLogger(__name__)
 
@@ -208,7 +208,7 @@ class Exchange(object):
         if quote_currency:
             markets = {k: v for k, v in markets.items() if v['quote'] == quote_currency}
         if pairs_only:
-            markets = {k: v for k, v in markets.items() if '/' in v['symbol']}
+            markets = {k: v for k, v in markets.items() if symbol_is_pair(v['symbol'])}
         if active_only:
             markets = {k: v for k, v in markets.items() if v['active']}
         return markets
diff --git a/freqtrade/misc.py b/freqtrade/misc.py
index 7196338cf..9deb0ece6 100644
--- a/freqtrade/misc.py
+++ b/freqtrade/misc.py
@@ -137,3 +137,16 @@ def deep_merge_dicts(source, destination):
 
 def plural(num, singular: str, plural: str = None) -> str:
     return singular if (num == 1 or num == -1) else plural or singular + 's'
+
+
+def symbol_is_pair(symbol: str, base_currency: str = None, quote_currency: str = None):
+    """
+    Check if the symbol is a pair, i.e. consists of the base currency and the quote currency
+    separated by '/' character. If base_currency and/or quote_currency is passed, it also checks
+    that the symbol contains appropriate base and/or quote currency part before and after
+    the separating character correspondingly.
+    """
+    symbol_parts = symbol.split('/')
+    return (len(symbol_parts) == 2 and
+            (symbol_parts[0] == base_currency if base_currency else len(symbol_parts[0]) > 0) and
+            (symbol_parts[1] == quote_currency if quote_currency else len(symbol_parts[1]) > 0))