On 25 July 2011, Caicedo signed a four-year contract with Lokomotiv Moscow for a fee of €7.5 million and was handed the number 25 jersey. Previously, Lokomotiv Moscow tried to sign Caicedo in the Winter Transfer Window at Russia before it closed on 10 March 2011 after Lokomotiv Moscow failed to sign Stuttgart's striker Ciprian Marica. Following his move to Lokomotiv Moscow, the president of Russian club Olga Smorodskaya accused Levante of behaving unprofessionally in the sale and hit out at Levante for their lack of co-operation during negotiations, saying to RIA Novosti :