Gather the ingredients. Preheat the oven to 350 degrees F (175 degrees C). Grease a 9-inch springform pan.

Mix 1 cup plus 3 tablespoons flour and baking powder together in a large bowl.

Combine sweetened condensed milk, eggs, and melted butter in a medium bowl; add to flour mixture and beat with an electric mixer until smooth.

Pour cake batter into the prepared pan.

Bake in the preheated oven until a toothpick inserted into the center comes out clean, about 45 minutes; cool on a wire rack for 5 minutes. Run a knife around the edges to loosen; invert cake carefully onto a serving plate to cool completely.

Dust with confectioners' sugar before serving.