diff --git a/docs/configuration.md b/docs/configuration.md
index 25ae1dd31..00d2830e4 100644
--- a/docs/configuration.md
+++ b/docs/configuration.md
@@ -89,6 +89,7 @@ Mandatory parameters are marked as **Required**, which means that they are requi
 | `exchange.ccxt_async_config` | Additional CCXT parameters passed to the async ccxt instance. Parameters may differ from exchange to exchange  and are documented in the [ccxt documentation](https://ccxt.readthedocs.io/en/latest/manual.html#instantiation) <br> **Datatype:** Dict
 | `exchange.markets_refresh_interval` | The interval in minutes in which markets are reloaded. <br>*Defaults to `60` minutes.* <br> **Datatype:** Positive Integer
 | `exchange.skip_pair_validation` | Skip pairlist validation on startup.<br>*Defaults to `false`<br> **Datatype:** Boolean
+| `exchange.skip_open_order_update` | Skips open order updates on startup should the exchange cause problems. Only relevant in live conditions.<br>*Defaults to `false`<br> **Datatype:** Boolean
 | `edge.*` | Please refer to [edge configuration document](edge.md) for detailed explanation.
 | `experimental.block_bad_exchanges` | Block exchanges known to not work with freqtrade. Leave on default unless you want to test if that exchange works now. <br>*Defaults to `true`.* <br> **Datatype:** Boolean
 | `pairlists` | Define one or more pairlists to be used. [More information](plugins.md#pairlists-and-pairlist-handlers). <br>*Defaults to `StaticPairList`.*  <br> **Datatype:** List of Dicts
diff --git a/freqtrade/freqtradebot.py b/freqtrade/freqtradebot.py
index fde85e94a..a6eb75d5b 100644
--- a/freqtrade/freqtradebot.py
+++ b/freqtrade/freqtradebot.py
@@ -246,7 +246,7 @@ class FreqtradeBot(LoggingMixin):
         Updates open orders based on order list kept in the database.
         Mainly updates the state of orders - but may also close trades
         """
-        if self.config['dry_run']:
+        if self.config['dry_run'] or self.config['exchange'].get('skip_open_order_update', False):
             # Updating open orders in dry-run does not make sense and will fail.
             return
 
@@ -1070,7 +1070,9 @@ class FreqtradeBot(LoggingMixin):
             if not self.exchange.check_order_canceled_empty(order):
                 try:
                     # if trade is not partially completed, just delete the order
-                    self.exchange.cancel_order(trade.open_order_id, trade.pair)
+                    co = self.exchange.cancel_order_with_result(trade.open_order_id, trade.pair,
+                                                                trade.amount)
+                    trade.update_order(co)
                 except InvalidOrderException:
                     logger.exception(f"Could not cancel sell order {trade.open_order_id}")
                     return 'error cancelling order'
@@ -1078,6 +1080,7 @@ class FreqtradeBot(LoggingMixin):
             else:
                 reason = constants.CANCEL_REASON['CANCELLED_ON_EXCHANGE']
                 logger.info('Sell order %s for %s.', reason, trade)
+                trade.update_order(order)
 
             trade.close_rate = None
             trade.close_rate_requested = None
diff --git a/tests/test_freqtradebot.py b/tests/test_freqtradebot.py
index 6cb126ae1..3bd2f5607 100644
--- a/tests/test_freqtradebot.py
+++ b/tests/test_freqtradebot.py
@@ -2609,7 +2609,7 @@ def test_handle_cancel_sell_cancel_exception(mocker, default_conf) -> None:
     patch_RPCManager(mocker)
     patch_exchange(mocker)
     mocker.patch(
-        'freqtrade.exchange.Exchange.cancel_order', side_effect=InvalidOrderException())
+        'freqtrade.exchange.Exchange.cancel_order_with_result', side_effect=InvalidOrderException())
 
     freqtrade = FreqtradeBot(default_conf)