diff --git a/freqtrade/exchange/exchange.py b/freqtrade/exchange/exchange.py
index 5d6786476..fd4fd627f 100644
--- a/freqtrade/exchange/exchange.py
+++ b/freqtrade/exchange/exchange.py
@@ -182,6 +182,8 @@ class Exchange:
             self.required_candle_call_count = self.validate_required_startup_candles(
                 config.get('startup_candle_count', 0), config.get('timeframe', ''))
             self.validate_trading_mode_and_margin_mode(self.trading_mode, self.margin_mode)
+            self.validate_pricing(config['ask_strategy'])
+            self.validate_pricing(config['bid_strategy'])
 
         # Converts the interval provided in minutes in config to seconds
         self.markets_refresh_interval: int = exchange_config.get(
@@ -575,6 +577,14 @@ class Exchange:
                 f'On exchange stoploss is not supported for {self.name}.'
             )
 
+    def validate_pricing(self, pricing: Dict) -> None:
+        if pricing.get('use_order_book', False) and not self.exchange_has('fetchL2OrderBook'):
+            raise OperationalException(f'Orderbook not available for {self.name}.')
+        if (not pricing.get('use_order_book', False) and not (
+                self.exchange_has('fetchTicker') and self._ft_has['tickers_have_price']
+                )):
+            raise OperationalException(f'Ticker pricing not available for {self.name}.')
+
     def validate_order_time_in_force(self, order_time_in_force: Dict) -> None:
         """
         Checks if order time in force configured in strategy/config are supported
diff --git a/tests/exchange/test_exchange.py b/tests/exchange/test_exchange.py
index 7438d900d..c375f37fe 100644
--- a/tests/exchange/test_exchange.py
+++ b/tests/exchange/test_exchange.py
@@ -939,7 +939,45 @@ def test_validate_timeframes_not_in_config(default_conf, mocker):
     Exchange(default_conf)
 
 
-def test_validate_order_types(default_conf, mocker):
+def test_validate_pricing(default_conf, mocker):
+    api_mock = MagicMock()
+    has = {
+        'fetchL2OrderBook': True,
+        'fetchTicker': True,
+    }
+    type(api_mock).has = PropertyMock(return_value=has)
+    mocker.patch('freqtrade.exchange.Exchange._init_ccxt', MagicMock(return_value=api_mock))
+    mocker.patch('freqtrade.exchange.Exchange._load_markets', MagicMock(return_value={}))
+    mocker.patch('freqtrade.exchange.exchange.Exchange.validate_trading_mode_and_margin_mode')
+    mocker.patch('freqtrade.exchange.Exchange.validate_pairs')
+    mocker.patch('freqtrade.exchange.Exchange.validate_timeframes')
+    mocker.patch('freqtrade.exchange.Exchange.validate_stakecurrency')
+    mocker.patch('freqtrade.exchange.Exchange.name', 'Binance')
+    ExchangeResolver.load_exchange('binance', default_conf)
+    has.update({'fetchTicker': False})
+    with pytest.raises(OperationalException, match="Ticker pricing not available for .*"):
+        ExchangeResolver.load_exchange('binance', default_conf)
+
+    has.update({'fetchTicker': True})
+
+    default_conf['ask_strategy']['use_order_book'] = True
+    ExchangeResolver.load_exchange('binance', default_conf)
+    has.update({'fetchL2OrderBook': False})
+
+    with pytest.raises(OperationalException, match="Orderbook not available for .*"):
+        ExchangeResolver.load_exchange('binance', default_conf)
+
+    has.update({'fetchL2OrderBook': True})
+
+    # Binance has no tickers on futures
+    default_conf['trading_mode'] = TradingMode.FUTURES
+    default_conf['margin_mode'] = MarginMode.ISOLATED
+
+    with pytest.raises(OperationalException, match="Ticker pricing not available for .*"):
+        ExchangeResolver.load_exchange('binance', default_conf)
+
+
+def test_validate_ordertypes(default_conf, mocker):
     api_mock = MagicMock()
 
     type(api_mock).has = PropertyMock(return_value={'createMarketOrder': True})