No, you can use your max available resolution, however it is recommended to use 1920x1080 (or any higher with 16:9 ratio).
In case of low performance : try lowering the Graphics Quality to Low Quality, the resolution can be kept at the one you desire. If low quality graphics doesn't solve the performance issue, you can then try lowering the resolution, however i'm not sure that this gives that much of a performance boost for this game.