diff --git a/freqtrade/constants.py b/freqtrade/constants.py
index b8e240419..3802ec3ad 100644
--- a/freqtrade/constants.py
+++ b/freqtrade/constants.py
@@ -690,4 +690,6 @@ BidAsk = Literal['bid', 'ask']
 OBLiteral = Literal['asks', 'bids']
 
 Config = Dict[str, Any]
+# Exchange part of the configuration.
+ExchangeConfig = Dict[str, Any]
 IntOrInf = float
diff --git a/freqtrade/exchange/__init__.py b/freqtrade/exchange/__init__.py
index 8092d5af8..12fb0c55e 100644
--- a/freqtrade/exchange/__init__.py
+++ b/freqtrade/exchange/__init__.py
@@ -1,6 +1,6 @@
 # flake8: noqa: F401
 # isort: off
-from freqtrade.exchange.common import remove_credentials, MAP_EXCHANGE_CHILDCLASS
+from freqtrade.exchange.common import remove_exchange_credentials, MAP_EXCHANGE_CHILDCLASS
 from freqtrade.exchange.exchange import Exchange
 # isort: on
 from freqtrade.exchange.binance import Binance
diff --git a/freqtrade/exchange/common.py b/freqtrade/exchange/common.py
index e60207573..10dfdf178 100644
--- a/freqtrade/exchange/common.py
+++ b/freqtrade/exchange/common.py
@@ -4,7 +4,7 @@ import time
 from functools import wraps
 from typing import Any, Callable, Optional, TypeVar, cast, overload
 
-from freqtrade.constants import Config
+from freqtrade.constants import ExchangeConfig
 from freqtrade.exceptions import DDosProtection, RetryableOrderError, TemporaryError
 from freqtrade.mixins import LoggingMixin
 
@@ -89,18 +89,18 @@ EXCHANGE_HAS_OPTIONAL = [
 ]
 
 
-def remove_credentials(config: Config) -> None:
+def remove_exchange_credentials(exchange_config: ExchangeConfig, dry_run: bool) -> None:
     """
     Removes exchange keys from the configuration and specifies dry-run
     Used for backtesting / hyperopt / edge and utils.
     Modifies the input dict!
     """
-    if config.get('dry_run', False):
-        config['exchange']['key'] = ''
-        config['exchange']['apiKey'] = ''
-        config['exchange']['secret'] = ''
-        config['exchange']['password'] = ''
-        config['exchange']['uid'] = ''
+    if dry_run:
+        exchange_config['key'] = ''
+        exchange_config['apiKey'] = ''
+        exchange_config['secret'] = ''
+        exchange_config['password'] = ''
+        exchange_config['uid'] = ''
 
 
 def calculate_backoff(retrycount, max_retries):
diff --git a/freqtrade/exchange/exchange.py b/freqtrade/exchange/exchange.py
index a70527a7f..7c68eaa99 100644
--- a/freqtrade/exchange/exchange.py
+++ b/freqtrade/exchange/exchange.py
@@ -20,16 +20,16 @@ from dateutil import parser
 from pandas import DataFrame, concat
 
 from freqtrade.constants import (DEFAULT_AMOUNT_RESERVE_PERCENT, NON_OPEN_EXCHANGE_STATES, BidAsk,
-                                 BuySell, Config, EntryExit, ListPairsWithTimeframes, MakerTaker,
-                                 OBLiteral, PairWithTimeframe)
+                                 BuySell, Config, EntryExit, ExchangeConfig,
+                                 ListPairsWithTimeframes, MakerTaker, OBLiteral, PairWithTimeframe)
 from freqtrade.data.converter import clean_ohlcv_dataframe, ohlcv_to_dataframe, trades_dict_to_list
 from freqtrade.enums import OPTIMIZE_MODES, CandleType, MarginMode, TradingMode
 from freqtrade.enums.pricetype import PriceType
 from freqtrade.exceptions import (DDosProtection, ExchangeError, InsufficientFundsError,
                                   InvalidOrderException, OperationalException, PricingError,
                                   RetryableOrderError, TemporaryError)
-from freqtrade.exchange.common import (API_FETCH_ORDER_RETRY_COUNT, remove_credentials, retrier,
-                                       retrier_async)
+from freqtrade.exchange.common import (API_FETCH_ORDER_RETRY_COUNT, remove_exchange_credentials,
+                                       retrier, retrier_async)
 from freqtrade.exchange.exchange_utils import (ROUND, ROUND_DOWN, ROUND_UP, CcxtModuleType,
                                                amount_to_contract_precision, amount_to_contracts,
                                                amount_to_precision, contracts_to_amount,
@@ -92,7 +92,7 @@ class Exchange:
         # TradingMode.SPOT always supported and not required in this list
     ]
 
-    def __init__(self, config: Config, *, exchange_config: Optional[Config] = None,
+    def __init__(self, config: Config, *, exchange_config: Optional[ExchangeConfig] = None,
                  validate: bool = True, load_leverage_tiers: bool = False) -> None:
         """
         Initializes this module with the given config,
@@ -131,12 +131,12 @@ class Exchange:
 
         # Holds all open sell orders for dry_run
         self._dry_run_open_orders: Dict[str, Any] = {}
-        remove_credentials(config)
 
         if config['dry_run']:
             logger.info('Instance is running with dry_run enabled')
         logger.info(f"Using CCXT {ccxt.__version__}")
         exchange_conf: Dict[str, Any] = exchange_config if exchange_config else config['exchange']
+        remove_exchange_credentials(exchange_conf, config.get('dry_run', False))
         self.log_responses = exchange_conf.get('log_responses', False)
 
         # Leverage properties
diff --git a/freqtrade/rpc/api_server/api_backtest.py b/freqtrade/rpc/api_server/api_backtest.py
index d9d7a27f1..b168affc3 100644
--- a/freqtrade/rpc/api_server/api_backtest.py
+++ b/freqtrade/rpc/api_server/api_backtest.py
@@ -11,6 +11,7 @@ from freqtrade.configuration.config_validation import validate_config_consistenc
 from freqtrade.data.btanalysis import get_backtest_resultlist, load_and_merge_backtest_result
 from freqtrade.enums import BacktestState
 from freqtrade.exceptions import DependencyException, OperationalException
+from freqtrade.exchange.common import remove_exchange_credentials
 from freqtrade.misc import deep_merge_dicts
 from freqtrade.rpc.api_server.api_schemas import (BacktestHistoryEntry, BacktestRequest,
                                                   BacktestResponse)
@@ -38,6 +39,7 @@ async def api_start_backtest(  # noqa: C901
         raise HTTPException(status_code=500, detail="base64 encoded strategies are not allowed.")
 
     btconfig = deepcopy(config)
+    remove_exchange_credentials(btconfig['exchange'], True)
     settings = dict(bt_settings)
     if settings.get('freqai', None) is not None:
         settings['freqai'] = dict(settings['freqai'])
diff --git a/tests/exchange/test_exchange.py b/tests/exchange/test_exchange.py
index ebbecdad0..4c7a7dcc8 100644
--- a/tests/exchange/test_exchange.py
+++ b/tests/exchange/test_exchange.py
@@ -20,7 +20,7 @@ from freqtrade.exchange import (Binance, Bittrex, Exchange, Kraken, amount_to_pr
                                 timeframe_to_minutes, timeframe_to_msecs, timeframe_to_next_date,
                                 timeframe_to_prev_date, timeframe_to_seconds)
 from freqtrade.exchange.common import (API_FETCH_ORDER_RETRY_COUNT, API_RETRY_COUNT,
-                                       calculate_backoff, remove_credentials)
+                                       calculate_backoff, remove_exchange_credentials)
 from freqtrade.exchange.exchange import amount_to_contract_precision
 from freqtrade.resolvers.exchange_resolver import ExchangeResolver
 from tests.conftest import (EXMS, generate_test_data_raw, get_mock_coro, get_patched_exchange,
@@ -137,16 +137,14 @@ def test_init(default_conf, mocker, caplog):
     assert log_has('Instance is running with dry_run enabled', caplog)
 
 
-def test_remove_credentials(default_conf, caplog) -> None:
+def test_remove_exchange_credentials(default_conf) -> None:
     conf = deepcopy(default_conf)
-    conf['dry_run'] = False
-    remove_credentials(conf)
+    remove_exchange_credentials(conf['exchange'], False)
 
     assert conf['exchange']['key'] != ''
     assert conf['exchange']['secret'] != ''
 
-    conf['dry_run'] = True
-    remove_credentials(conf)
+    remove_exchange_credentials(conf['exchange'], True)
     assert conf['exchange']['key'] == ''
     assert conf['exchange']['secret'] == ''
     assert conf['exchange']['password'] == ''