diff --git a/freqtrade/exchange/__init__.py b/freqtrade/exchange/__init__.py
index a47acec20..a658a790a 100644
--- a/freqtrade/exchange/__init__.py
+++ b/freqtrade/exchange/__init__.py
@@ -107,7 +107,7 @@ def validate_pairs(pairs: List[str]) -> None:
             )
         if pair not in markets:
             raise OperationalException(
-                'Pair {} is not available at {}'.format(pair, _API.id.lower()))
+                'Pair {} is not available at {}'.format(pair, get_name()))
 
 
 def exchange_has(endpoint: str) -> bool:
diff --git a/freqtrade/tests/exchange/test_exchange.py b/freqtrade/tests/exchange/test_exchange.py
index b45573d6a..d6fa420e5 100644
--- a/freqtrade/tests/exchange/test_exchange.py
+++ b/freqtrade/tests/exchange/test_exchange.py
@@ -68,7 +68,8 @@ def test_validate_pairs_not_compatible(default_conf, mocker):
     api_mock.load_markets = MagicMock(return_value={
         'ETH/BTC': '', 'TKN/BTC': '', 'TRST/BTC': '', 'SWT/BTC': '', 'BCC/BTC': ''
     })
-    default_conf['stake_currency'] = 'ETH'
+    conf = deepcopy(default_conf)
+    conf['stake_currency'] = 'ETH'
     mocker.patch('freqtrade.exchange._API', api_mock)
     mocker.patch.dict('freqtrade.exchange._CONF', conf)
     with pytest.raises(OperationalException, match=r'not compatible'):
@@ -78,18 +79,20 @@ def test_validate_pairs_not_compatible(default_conf, mocker):
 def test_validate_pairs_exception(default_conf, mocker, caplog):
     caplog.set_level(logging.INFO)
     api_mock = MagicMock()
-    api_mock.load_markets = MagicMock(side_effect=ccxt.BaseError())
-    api_mock.name = 'binance'
+    api_mock.name = 'Binance'
     mocker.patch('freqtrade.exchange._API', api_mock)
     mocker.patch.dict('freqtrade.exchange._CONF', default_conf)
 
-    with pytest.raises(OperationalException, match=r'Pair ETH/BTC is not available at binance'):
+    api_mock.load_markets = MagicMock(return_value={})
+    with pytest.raises(OperationalException, match=r'Pair ETH/BTC is not available at Binance'):
         validate_pairs(default_conf['exchange']['pair_whitelist'])
 
+    api_mock.load_markets = MagicMock(side_effect=ccxt.BaseError())
     validate_pairs(default_conf['exchange']['pair_whitelist'])
     assert log_has('Unable to validate pairs (assuming they are correct). Reason: ',
                    caplog.record_tuples)
 
+
 def test_validate_pairs_stake_exception(default_conf, mocker, caplog):
     caplog.set_level(logging.INFO)
     conf = deepcopy(default_conf)