is this OK to do, or do I have to worry about network admins getting my ftp password or some other malicious activity?
Unless you use SSL FTP, your traffic is unencrypted and may be intercepted from any machine on the local network. Check with your ISP if their FTP server supports secure authentication (i.e. a mechanism that would allow your FTP client to avoid submitting passwords in clear text). If it doesn't, you passwords will be transmitted in clear text as well. As far as I know, IE doesn't support SSL FTP or secure authentication. J.D.
Check with your ISP if they support all the features you have in your client. At least see if you can configure your client to refuse connecting to the FTP server if the server doesn't support the minimum level of privacy you need. J.D.