No, you have 3 options available to you! You can either purchase a Yola Bronze or a Yola Gold package to take advantage of the domain pointing feature.
Once you have upgraded to one of these packages, you will need to point or configure that domain name to Yola by adding or editing A Records. For more information on how to point your domain name to Yola, please click on this link.
You can also transfer your domain to Yola so that your domain is managed through us: Tutorial: Transferring your domain to Yola.