diff --git a/freqtrade/persistence/migrations.py b/freqtrade/persistence/migrations.py
index fbf8d7943..69ffc544e 100644
--- a/freqtrade/persistence/migrations.py
+++ b/freqtrade/persistence/migrations.py
@@ -171,9 +171,8 @@ def check_migrate(engine, decl_base, previous_tables) -> None:
     tabs = get_table_names_for_table(inspector, 'trades')
     table_back_name = get_backup_name(tabs, 'trades_bak')
 
-    # Last added column of trades table
-    # To determine if migrations need to run
-    if not has_column(cols, 'collateral_currency'):
+    # Check for latest column
+    if not has_column(cols, 'open_trade_value'):
         logger.info(f'Running database migration for trades - backup: {table_back_name}')
         migrate_trades_table(decl_base, inspector, engine, table_back_name, cols)
         # Reread columns - the above recreated the table!
diff --git a/tests/test_persistence.py b/tests/test_persistence.py
index 95de22bdf..44943dc68 100644
--- a/tests/test_persistence.py
+++ b/tests/test_persistence.py
@@ -956,7 +956,6 @@ def test_to_json(default_conf, fee):
                       'strategy': None,
                       'timeframe': None,
                       'exchange': 'binance',
-
                       'leverage': None,
                       'interest_rate': None,
                       'liquidation_price': None,
@@ -1026,7 +1025,6 @@ def test_to_json(default_conf, fee):
                       'strategy': None,
                       'timeframe': None,
                       'exchange': 'binance',
-
                       'leverage': None,
                       'interest_rate': None,
                       'liquidation_price': None,