diff --git a/freqtrade/freqtradebot.py b/freqtrade/freqtradebot.py
index 6dc8eacf9..926f22225 100644
--- a/freqtrade/freqtradebot.py
+++ b/freqtrade/freqtradebot.py
@@ -268,6 +268,10 @@ class FreqtradeBot(LoggingMixin):
         Update closed trades without close fees assigned.
         Only acts when Orders are in the database, otherwise the last orderid is unknown.
         """
+        if self.config['dry_run']:
+            # Updating open orders in dry-run does not make sense and will fail.
+            return
+
         trades: List[Trade] = Trade.get_sold_trades_without_assigned_fees()
         for trade in trades:
 
diff --git a/tests/test_freqtradebot.py b/tests/test_freqtradebot.py
index e6aff3352..6257a7e0b 100644
--- a/tests/test_freqtradebot.py
+++ b/tests/test_freqtradebot.py
@@ -4368,6 +4368,19 @@ def test_update_closed_trades_without_assigned_fees(mocker, default_conf, fee):
 
     freqtrade.update_closed_trades_without_assigned_fees()
 
+    # Does nothing for dry-run
+    trades = Trade.get_trades().all()
+    assert len(trades) == MOCK_TRADE_COUNT
+    for trade in trades:
+        assert trade.fee_open_cost is None
+        assert trade.fee_open_currency is None
+        assert trade.fee_close_cost is None
+        assert trade.fee_close_currency is None
+
+    freqtrade.config['dry_run'] = False
+
+    freqtrade.update_closed_trades_without_assigned_fees()
+
     trades = Trade.get_trades().all()
     assert len(trades) == MOCK_TRADE_COUNT