diff --git a/freqtrade/util/migrations/migrate_wallet_history.py b/freqtrade/util/migrations/migrate_wallet_history.py
index eb24c5922..30a31b8e7 100644
--- a/freqtrade/util/migrations/migrate_wallet_history.py
+++ b/freqtrade/util/migrations/migrate_wallet_history.py
@@ -59,6 +59,12 @@ def _prepare_balance_distribution(
         pairlist=pairlist,
     )
     pairlist_valid = [p for p in pairlist if p in exchange.markets]
+    pairlist_invalid = set(pairlist) - set(pairlist_valid)
+    if pairlist_invalid:
+        logger.warning(
+            f"The following trading pairs from the trade history are not available on the exchange "
+            f"and will be skipped during wallet history migration: {', '.join(pairlist_invalid)}"
+        )
 
     logger.info("Wallet History migration: Fetching OHLCV data ...")
     data = exchange.refresh_latest_ohlcv(