Can I use master control panel with a non offical usb dongle board ?

I have an after market breakout board for nrf51822 with a usb-to-serial chip (cp2102) that I bought from Amazon. It should act as an NRF51 USB dongle (pca10031-like) but with half the price.

I managed to flash the MEFW on it successfully using nrfgo studio and the official nrf51dk debug out feature, but I wasn't able to use MCP with it. It keeps saying: No response from master emulator

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I've tried different versions of MEFW with different baud rates. but nothing worked

Note: that breakout board doen't have segger J-Link debugger chip, will that be a problem in it being detected and used by MCP. from my understanding it should not be a problem.