diff --git a/apps/desktop/desktop/src/main/java/bisq/desktop/main/content/settings/preferences/PreferencesView.java b/apps/desktop/desktop/src/main/java/bisq/desktop/main/content/settings/preferences/PreferencesView.java
index 8a3938195a..918c887b98 100644
--- a/apps/desktop/desktop/src/main/java/bisq/desktop/main/content/settings/preferences/PreferencesView.java
+++ b/apps/desktop/desktop/src/main/java/bisq/desktop/main/content/settings/preferences/PreferencesView.java
@@ -56,7 +56,7 @@ public class PreferencesView extends View<VBox, PreferencesModel, PreferencesCon
                     0, NetworkLoad.MAX_DIFFICULTY_ADJUSTMENT);
     private static final ValidatorBase MAX_TRADE_PRICE_DEVIATION_VALIDATOR =
             new PercentageValidator(Res.get("settings.preferences.trade.maxTradePriceDeviation.invalid", BisqEasyTradeService.MAX_TRADE_PRICE_DEVIATION * 100),
-                    0, BisqEasyTradeService.MAX_TRADE_PRICE_DEVIATION);
+                    0.01, BisqEasyTradeService.MAX_TRADE_PRICE_DEVIATION);
     private static final double TEXT_FIELD_WIDTH = 500;
 
     private final Button resetDontShowAgain, clearNotifications, addLanguageButton;
diff --git a/i18n/src/main/resources/settings.properties b/i18n/src/main/resources/settings.properties
index fdfdb3629d..94c699f485 100644
--- a/i18n/src/main/resources/settings.properties
+++ b/i18n/src/main/resources/settings.properties
@@ -42,7 +42,7 @@ settings.preferences.trade.requiredTotalReputationScore=Min. required reputation
 settings.preferences.trade.requiredTotalReputationScore.help=Restrict trading to trader with a min. reputation score
 settings.preferences.network.minReputationScore.description.self=Custom min. required reputation score
 settings.preferences.network.minReputationScore.description.fromSecManager=Min. required reputation score by Bisq Security Manager
-settings.preferences.trade.maxTradePriceDeviation.invalid=Must be a value between 0 and {0}%
+settings.preferences.trade.maxTradePriceDeviation.invalid=Must be a value between 1 and {0}%
 settings.preferences.trade.minReputationScore.invalid=Must be a number between 0 and {0}
 settings.preferences.network.minReputationScore.ignoreValueFromSecManager=Ignore value provided by Bisq Security Manager
 settings.preferences.trade.closeMyOfferWhenTaken=Close my offer when taken
diff --git a/settings/src/main/java/bisq/settings/SettingsStore.java b/settings/src/main/java/bisq/settings/SettingsStore.java
index 3826e9f009..a5aa2a0456 100644
--- a/settings/src/main/java/bisq/settings/SettingsStore.java
+++ b/settings/src/main/java/bisq/settings/SettingsStore.java
@@ -143,6 +143,13 @@ public bisq.settings.protobuf.SettingsStore toProto() {
     }
 
     public static SettingsStore fromProto(bisq.settings.protobuf.SettingsStore proto) {
+        // When users update from 2.0.2 the default value is 0. We require anyway a 1% as min. value so we use the
+        // fact that 0 is invalid to convert to the default value at updates.
+        // Can be removed once it's not expected anymore that users update from v2.0.2.
+        double maxTradePriceDeviation = proto.getMaxTradePriceDeviation();
+        if (maxTradePriceDeviation == 0) {
+            maxTradePriceDeviation = SettingsService.DEFAULT_MAX_TRADE_PRICE_DEVIATION;
+        }
         return new SettingsStore(Cookie.fromProto(proto.getCookie()),
                 proto.getDontShowAgainMapMap().entrySet().stream()
                         .collect(Collectors.toMap(Map.Entry::getKey, Map.Entry::getValue)),
@@ -163,7 +170,7 @@ public static SettingsStore fromProto(bisq.settings.protobuf.SettingsStore proto
                 new HashSet<>(proto.getFavouriteMarketsList().stream()
                         .map(Market::fromProto).collect(Collectors.toSet())),
                 proto.getIgnoreMinRequiredReputationScoreFromSecManager(),
-                proto.getMaxTradePriceDeviation());
+                maxTradePriceDeviation);
     }
 
     @Override