All woods can be waxed - except Mahogony, which is best oiled with a teak oil (such as Simply Sam's Heritage Furniture Oil) - and Walnut, which prefers a coating of fine grade Paraffin or lamp oil applied using a lint free cloth, such as an old cotton shirt.
Bees Wax polish may take time to apply but the finish will last longer and protect the wood. All polishes should be used sparingly with a coating applied only every 3-4 months, providing you give furniture a good dusting regularly in between with a soft cloth. The National Trust applies polish to its furniture just once or, at most, twice a year. (An excerpt taken from and article by Jane Furnival, written for UK based magazine "Country Living".)