diff --git a/freqtrade/rpc/telegram.py b/freqtrade/rpc/telegram.py
index f9a0635f0..fcc61b5e4 100644
--- a/freqtrade/rpc/telegram.py
+++ b/freqtrade/rpc/telegram.py
@@ -1375,21 +1375,21 @@ class Telegram(RPCHandler):
             pair = context.args[0]
 
         trades = self._rpc._rpc_enter_tag_performance(pair)
-        output = "<b>Entry Tag Performance:</b>\n"
+        output = "*Entry Tag Performance:*\n"
         for i, trade in enumerate(trades):
             stat_line = (
-                f"{i + 1}.\t <code>{trade['enter_tag']}\t"
+                f"{i + 1}.\t `{trade['enter_tag']}\t"
                 f"{fmt_coin(trade['profit_abs'], self._config['stake_currency'])} "
                 f"({trade['profit_ratio']:.2%}) "
-                f"({trade['count']})</code>\n")
+                f"({trade['count']})`\n")
 
             if len(output + stat_line) >= MAX_MESSAGE_LENGTH:
-                await self._send_msg(output, parse_mode=ParseMode.HTML)
+                await self._send_msg(output, parse_mode=ParseMode.MARKDOWN)
                 output = stat_line
             else:
                 output += stat_line
 
-        await self._send_msg(output, parse_mode=ParseMode.HTML,
+        await self._send_msg(output, parse_mode=ParseMode.MARKDOWN,
                              reload_able=True, callback_path="update_enter_tag_performance",
                              query=update.callback_query)
 
@@ -1407,21 +1407,21 @@ class Telegram(RPCHandler):
             pair = context.args[0]
 
         trades = self._rpc._rpc_exit_reason_performance(pair)
-        output = "<b>Exit Reason Performance:</b>\n"
+        output = "*Exit Reason Performance:*\n"
         for i, trade in enumerate(trades):
             stat_line = (
-                f"{i + 1}.\t <code>{trade['exit_reason']}\t"
+                f"{i + 1}.\t `{trade['exit_reason']}\t"
                 f"{fmt_coin(trade['profit_abs'], self._config['stake_currency'])} "
                 f"({trade['profit_ratio']:.2%}) "
-                f"({trade['count']})</code>\n")
+                f"({trade['count']})`\n")
 
             if len(output + stat_line) >= MAX_MESSAGE_LENGTH:
-                await self._send_msg(output, parse_mode=ParseMode.HTML)
+                await self._send_msg(output, parse_mode=ParseMode.MARKDOWN)
                 output = stat_line
             else:
                 output += stat_line
 
-        await self._send_msg(output, parse_mode=ParseMode.HTML,
+        await self._send_msg(output, parse_mode=ParseMode.MARKDOWN,
                              reload_able=True, callback_path="update_exit_reason_performance",
                              query=update.callback_query)
 
@@ -1439,21 +1439,21 @@ class Telegram(RPCHandler):
             pair = context.args[0]
 
         trades = self._rpc._rpc_mix_tag_performance(pair)
-        output = "<b>Mix Tag Performance:</b>\n"
+        output = "*Mix Tag Performance:*\n"
         for i, trade in enumerate(trades):
             stat_line = (
-                f"{i + 1}.\t <code>{trade['mix_tag']}\t"
+                f"{i + 1}.\t `{trade['mix_tag']}\t"
                 f"{fmt_coin(trade['profit_abs'], self._config['stake_currency'])} "
                 f"({trade['profit_ratio']:.2%}) "
-                f"({trade['count']})</code>\n")
+                f"({trade['count']})`\n")
 
             if len(output + stat_line) >= MAX_MESSAGE_LENGTH:
-                await self._send_msg(output, parse_mode=ParseMode.HTML)
+                await self._send_msg(output, parse_mode=ParseMode.MARKDOWN)
                 output = stat_line
             else:
                 output += stat_line
 
-        await self._send_msg(output, parse_mode=ParseMode.HTML,
+        await self._send_msg(output, parse_mode=ParseMode.MARKDOWN,
                              reload_able=True, callback_path="update_mix_tag_performance",
                              query=update.callback_query)
 
diff --git a/tests/rpc/test_rpc_telegram.py b/tests/rpc/test_rpc_telegram.py
index 3c683d7b3..7b1347fd6 100644
--- a/tests/rpc/test_rpc_telegram.py
+++ b/tests/rpc/test_rpc_telegram.py
@@ -1507,7 +1507,7 @@ async def test_telegram_entry_tag_performance_handle(
     await telegram._enter_tag_performance(update=update, context=context)
     assert msg_mock.call_count == 1
     assert 'Entry Tag Performance' in msg_mock.call_args_list[0][0][0]
-    assert '<code>TEST1\t3.987 USDT (5.00%) (1)</code>' in msg_mock.call_args_list[0][0][0]
+    assert '`TEST1\t3.987 USDT (5.00%) (1)`' in msg_mock.call_args_list[0][0][0]
 
     context.args = ['XRP/USDT']
     await telegram._enter_tag_performance(update=update, context=context)
@@ -1538,7 +1538,7 @@ async def test_telegram_exit_reason_performance_handle(
     await telegram._exit_reason_performance(update=update, context=context)
     assert msg_mock.call_count == 1
     assert 'Exit Reason Performance' in msg_mock.call_args_list[0][0][0]
-    assert '<code>roi\t2.842 USDT (10.00%) (1)</code>' in msg_mock.call_args_list[0][0][0]
+    assert '`roi\t2.842 USDT (10.00%) (1)`' in msg_mock.call_args_list[0][0][0]
     context.args = ['XRP/USDT']
 
     await telegram._exit_reason_performance(update=update, context=context)
@@ -1570,7 +1570,7 @@ async def test_telegram_mix_tag_performance_handle(default_conf_usdt, update, ti
     await telegram._mix_tag_performance(update=update, context=context)
     assert msg_mock.call_count == 1
     assert 'Mix Tag Performance' in msg_mock.call_args_list[0][0][0]
-    assert ('<code>TEST3 roi\t2.842 USDT (10.00%) (1)</code>'
+    assert ('`TEST3 roi\t2.842 USDT (10.00%) (1)`'
             in msg_mock.call_args_list[0][0][0])
 
     context.args = ['XRP/USDT']