Merge Replication with dynamic snapshots via FTP

Hi all

I have set-up a merge replication which makes use of dynamic snapshots. When subscribing to the publication from my client PC I do not seem to be able to establish the DynamicSnapshotLocation as an FTP folder.
This is my command line (simplified):

-Distributor [DISTSERVER]
-DistributorSecurityMode 0
-Publisher [PUBSERVER]
-PublisherDB [PUBDB]
-Publication [MyPublication]
-PublisherSecurityMode 0
-Subscriber [SUBSERVER]
-SubscriberDB [SUBDB]
-SubscriptionType 2
-SubscriberSecurityMode 1
-FileTransferType 1
-FtpAddress FTPSERVER
-FtpUserName anonymous
-DynamicSnapShotFolder /PATHFROMFTPROOT/

With these parameters I get an error: "A syntax error occurred near parameter '-DynamicSnapShotFolder'. The step failed."
The path name to the snapshot is valid.

Am I overlooking something or is FTP not possible in combination with dynamic snapshots?

Thanks in advance
Andi