diff --git a/freqtrade/enums/marginmode.py b/freqtrade/enums/marginmode.py
index 1e42809ea..7fd749b29 100644
--- a/freqtrade/enums/marginmode.py
+++ b/freqtrade/enums/marginmode.py
@@ -1,7 +1,7 @@
 from enum import Enum
 
 
-class MarginMode(Enum):
+class MarginMode(str, Enum):
     """
     Enum to distinguish between
     cross margin/futures margin_mode and
diff --git a/freqtrade/rpc/api_server/api_background_tasks.py b/freqtrade/rpc/api_server/api_background_tasks.py
index 504ae7837..158a89385 100644
--- a/freqtrade/rpc/api_server/api_background_tasks.py
+++ b/freqtrade/rpc/api_server/api_background_tasks.py
@@ -120,6 +120,8 @@ def handleExchangePayload(payload: ExchangeModePayloadMixin, config_loc: Config)
         config_loc['trading_mode'] = payload.trading_mode
         config_loc['candle_type_def'] = CandleType.get_default(
             config_loc.get('trading_mode', 'spot') or 'spot')
+    if payload.margin_mode:
+        config_loc['margin_mode'] = payload.margin_mode
 
 
 @router.get('/pairlists/evaluate/{jobid}', response_model=WhitelistEvaluateResponse,
diff --git a/freqtrade/rpc/api_server/api_schemas.py b/freqtrade/rpc/api_server/api_schemas.py
index 9b662b342..3f4dd99e1 100644
--- a/freqtrade/rpc/api_server/api_schemas.py
+++ b/freqtrade/rpc/api_server/api_schemas.py
@@ -4,12 +4,13 @@ from typing import Any, Dict, List, Optional, Union
 from pydantic import BaseModel
 
 from freqtrade.constants import DATETIME_PRINT_FORMAT, IntOrInf
-from freqtrade.enums import OrderTypeValues, SignalDirection, TradingMode
+from freqtrade.enums import MarginMode, OrderTypeValues, SignalDirection, TradingMode
 from freqtrade.types import ValidExchangesType
 
 
 class ExchangeModePayloadMixin(BaseModel):
     trading_mode: Optional[TradingMode]
+    margin_mode: Optional[MarginMode]
     exchange: Optional[str]
 
 
diff --git a/tests/rpc/test_rpc_apiserver.py b/tests/rpc/test_rpc_apiserver.py
index 88ba9d7e0..f793b1f9c 100644
--- a/tests/rpc/test_rpc_apiserver.py
+++ b/tests/rpc/test_rpc_apiserver.py
@@ -1762,6 +1762,7 @@ def test_api_pairlists_evaluate(botclient, tmpdir, mocker):
         "stake_currency": "BTC",
         "exchange": "randomExchange",
         "trading_mode": "futures",
+        "margin_mode": "isolated",
     }
     rc = client_post(client, f"{BASE_URI}/pairlists/evaluate", body)
     assert_response(rc)
@@ -1769,6 +1770,7 @@ def test_api_pairlists_evaluate(botclient, tmpdir, mocker):
     call_config = plm.call_args_list[0][0][1]
     assert call_config['exchange']['name'] == 'randomExchange'
     assert call_config['trading_mode'] == 'futures'
+    assert call_config['margin_mode'] == 'isolated'
 
 
 def test_list_available_pairs(botclient):