Why are these called 5 way binding posts? I count four!

It was explained to me many years ago by an amp manufacturer, whom I forget, because you were able to use a spade ( or loop/hole ) to the shaft, and a banana plug, simultaneously........Is this true ? I am only repeating what I heard. MrD.

I'd call it 3 way, bare wire, (in a hole or wrapped around) are the same damn thing really.

I'd call it 3 way, bare wire, (in a hole or wrapped around) are the same damn thing really.

Not the same if the hole is missing....

Anything more than a 3-way I'm too old for.

Pretty sure the post is just bragging about its abilities.