diff --git a/freqtrade/commands/arguments.py b/freqtrade/commands/arguments.py
index b1225ab0a..954d7a6ac 100755
--- a/freqtrade/commands/arguments.py
+++ b/freqtrade/commands/arguments.py
@@ -96,7 +96,7 @@ ARGS_LIST_HYPEROPTS = ["hyperopt_path", "print_one_column"]
 
 ARGS_BACKTEST_SHOW = ["exportfilename", "backtest_show_pair_list", "backtest_breakdown"]
 
-ARGS_LIST_EXCHANGES = ["print_one_column", "list_exchanges_all"]
+ARGS_LIST_EXCHANGES = ["print_one_column", "list_exchanges_all", "trading_mode"]
 
 ARGS_LIST_TIMEFRAMES = ["exchange", "print_one_column"]
 
diff --git a/freqtrade/commands/list_commands.py b/freqtrade/commands/list_commands.py
index 6a1ca819d..71620c200 100644
--- a/freqtrade/commands/list_commands.py
+++ b/freqtrade/commands/list_commands.py
@@ -46,7 +46,14 @@ def start_list_exchanges(args: dict[str, Any]) -> None:
         table.add_column("Markets")
         table.add_column("Reason")
 
+        trading_mode = args.get("trading_mode", None)
+
         for exchange in available_exchanges:
+            if trading_mode and not any(
+                a["trading_mode"] == trading_mode for a in exchange["trade_modes"]
+            ):
+                # If trading_mode is specified, only show exchanges that support it
+                continue
             name = Text(exchange["name"])
             if exchange["supported"]:
                 name.append(" (Supported)", style="italic")