The federation tends to let member planets be independent, the federation doesn’t come in and be like “we own your planet and we provide for you in return we take everything”, so it’s definitely leaning socialist.
The main difference is who owns the means of production. In communism, the government does. In socialism, the people do.
Both aim to provide for the population at large and not just benefit to a few rich elites that own everything, but socialism is a bit more robust against tyrannical governments.