Abstract. Different accretion regimes onto magnetized NSs in HMXBs are considered: wind-fed supersonic (Bondi) regime at high accretion rates <math/> g s-1, subsonic settling regime at lower <math/> and supercritical disc accretion during Roche lobe overflow. In wind-fed stage, NSs in HMXBs reach equilibrium spin periods P* proportional to binary orbital period Pb. At supercritical accretion stage, the system may appear as a pulsating ULX. Population synthesis of Galactic HMXBs using standard assumptions on the binary evolution and NS formation is presented. Comparison of the model P* – Pb (the Corbet diagram), P* – Lx and Pb – Lx distributions with those for the observed HMXBs (including Be X-ray binaries) and pulsating ULXs suggests the importance of the reduction of P* in non-circular orbits, explaining the location of Be X-ray binaries in the model Corbet diagram, and the universal parameters of pulsating ULXs depending only on the NS magnetic fields.