Sprinkle both sides of the cube steaks with the salt and pepper. Set aside.
On a plate, mix together the flour, garlic powder and onion powder.
Heat a 12" skillet over medium high heat. When hot, add the butter and onion. Cook, stirring occasionally, until softened. Remove to a bowl.
While the onion is cooking, dredge the cube steaks in the flour (both sides) and shake off the excess. Set aside.
After cooking the onion, add the olive oil to the skillet. When hot, add the cube steaks. Cook about 4 minutes on each side.
Add the beef broth, there should be just enough to cover the cube steaks. Then bring to a simmer, gently scraping up any browned bits under the cube steaks. Reduce heat to low and cover the skillet most of the way, leaving just a small gap for steam to escape.
Cook for 1 hour, then add the onions to the skillet. Cook 1 more hour, or until the cube steaks are tender.
Before serving you can thicken the gravy further with a mixture of 2 Tbsp flour and 2 Tbsp softened butter, or sprinkle in some instant mashed potato flakes.
Cube steaks are delicious served with mashed potatoes.